Several states are using property tax abatement programs to sweeten the deal for businesses and homeowners installing solar projects. In fact, 38 states currently offer some type of program aimed at property tax exemption for renewable energy, reports the Solar Energy Industries Association.
According to (SEIA), an exemption typically excludes the added value created by the solar system to property valuations. In fact, the exemption makes it economically feasible for many. Homeowners, as an example, would not choose to install solar if faced with a property tax reassessment necessitated by the installation, notes the association.
“Markets are created when there are strong policies in place that encourage the use of solar energy, such as property tax exemptions,” says Ken Johnson, SEIA spokesperson. “When people choose to go solar, property tax exemptions prevent homeowners from being penalized with increased taxes.”
